$42.5 million apartment complex announced for Midtown

The influx of housing in Midtown is set to gain another 327 apartments with a partnership between local developer Gary Brooks and Indianapolis-based Milhaus Development.

The $42.5 million, 327-unit apartment complex set to begin construction in April at NW 10 and Shartel will include ground floor retail facing the round-about intersection. ADG

Brooks, whose Cornerstone Development is building the $36 million, 250-unit Edge apartments at NW 13 and Walker Avenue, will be partnering with Milhaus in building a $42.5 million, five-story complex at NW 10 and Shartel Avenue.

Most of the block has been vacant for more than a decade, and was last home to a nurses' housing tower that was vacant and dilapidated when it was torn down by nearby St. Anthony Hospital. The area has seen a revival in recent years with an influx of housing, restaurants, shops and bars.

“It's hard to argue that Midtown offers the best quality of life for downtown residents right now if you're wanting more than just an apartment and a couple of restaurants,” Brooks said. “We have a lot larger mix of restaurants, bars, shops and employers right now. I loved it already, obviously, with me already building The Edge.”

The project marks significant milestones for both companies. Brooks also is developing The Steel Yard apartments and retail in Bricktown, which, when both phases are built, will total 376 units. All together, his downtown area residential development totals just under 1,000 apartment units.

Milhaus, meanwhile, has developed several urban complexes in Indianapolis and has chosen Oklahoma City as one of four new cities for expansion.

David Leazenby, co-founder and vice president of development at Milhaus, said Brooks was identified as an ideal partner due to his experience and his existing management operation.

“I wasn't looking for an alliance, but I wasn't opposed to one,” Brooks said. “It's an alignment of our styles — how we think about our futures, how we don't want to stick with traditional old school rules but think outside the box. It's hard to find people who do that.”

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by Steve Lackmeyer

Business Reporter

Steve Lackmeyer is a reporter and columnist who started his career at The Oklahoman in 1990. Since then, he has won numerous awards for his coverage, which included the 1995 bombing of the Alfred P. Murrah Federal Building, the city's Metropolitan...